Former Apple and Pepsi chief executive John Sculley, together with some Canadian partners, is said to be eyeing struggling smartphone manufacturer BlacBerry Ltd. Sculley, who clashed with Apple founder Steve Jobs during his stint at Apple Inc., did not comment on the matter but hinted that the Ontario-based company has a lot of future value.

Globe and Mail scooped the rumors Wednesday but was not able to confirm if Sculley is indeed joining the frenzy to take control over the ailing company. Fairfax Financial Holdings' top executive Prem Watsa earlier revealed that it had placed an offer for $4.7 billion to purchase BlackBerry. Likewise, Mike Lazardis and his BlackBerry co-founder Doug Fregin are also exploring the possibilities. The Lenovo Group has also expressed its interest.

There are also reports that BlackBerry is in negotiations with Google, Cisco Systems, and SAP about possible acquisition of specific businesses or the company as a whole.

"The only thing I would say is, I think there's a lot of future value in Blackberry but without experienced people who have run this type of business, and without a strategic plan, it would be really challenging ... Whoever buys it would have to have a strategic plan that was credible and could succeed, and they would want to have an experienced team that would be able to implement that plan," said Sculley in an interview.

BlackBerry did not comment on the matter but related to Reuters through its spokesperson that it will not comment on the ongoing review and will only speak out when the conclusion of the process has been reached or a deal has been sealed.

The company has been struggling since the release of the iPhone and other smartphones in the market. It has been laying of staff and cutting costs where possible in order to attract buyers. BlackBerry's roll out of its messaging app on the iOS and Android platform has been well received by consumers, but the move is unlikely to help the company turn things around.

Sculley was able to help grow Apple Inc. while at its helm. He was able to convince the board to oust Jobs but the founder of the company made a comeback and went on to launch successful products such as the iPod, Mac computers, and the iPhone.